India doesn't have nearly the purchasing power of EU or US
India: Lots of people, sure, even after accounting for how they've only recently fully electrified and don't all have office jobs where software is even slightly relevant… but the entire economy even in aggregate let alone per capita (and therefore TAM) is smaller, and the linguistic situation is (according to what I was told by Indian coworkers at a previous job) an exciting mix where everyone speaks 3+ languages and intermixes them in basically every sentence.